1 H 1 2 0 2 6 R e s u l t s
H1 2026
RESULTS
September 11, 2026 Beatriz García - Executive Vice President Francisco Gonzalez - CFO Joaquín García - CEO Rafael del Castillo - Chief Strategy & Corporate Development Officer · IR Hybrid Solar Plant (200 MW PV + 285 MW/4h BESS) - PR
2 H 1 2 0 2 6 R e s u l t s
INDEX
02 Solutions for a sustainable world › 03 New life as listed company › 04 Main KPIs & Financial Results › 05 Guidance & Closing Remarks ›01 H1 Highlights ›
CCGT 950 MW 2x1 GTM501JAC - Mexico
3 H 1 2 0 2 6 R e s u l t s 01 | H1 2026 Highlights
SALES +4% YoY
€481m
H1 2025 € 464mCONTRIBUTION PROFIT +43% YoY
€70.1m14.6% CP margin H1 2025 €48.9m | 10.6% CP MarginEBITDA +54% YoY €44.5m9.3% EBITDA Margin H1 2025 €28.9m | 6.3% EBITDA Margin
NET CASH +€382m YoY
€94m* net cash
€334m* cash
H1 2025 €(288)mNET ATTRIBUTABLE PROFIT~1,500% YoY
x16
€44.8m
H1 2025 €2.8mEQUITY +148% YoY
€382m **35% Equity Ratio H1 2025 €154m** | 13% Equity Ratio
H2 2025 €5bCONTRACTS ON FINAL PHASE
OF NEGOTIATION2.6x HoH
€1.3b
H2 2025 €0,5 bPIPELINE 1.5x HoH
€14.9bn
H2 2025 €10.0bn YoY compares H1 2026 with H1 2025.
HoH compares H1 2026 with H2 2025.
LTM Last twelve months
* Includes ~€72m Panama divestment proceeds collected on 17 July 2026.
** Equity excludes €88m translation differences (€82m H12025).9.3% Net Profit Margin
BACKLOG + EXCLUSIVITY
AGREEMENTS
€1.3b + €5.6b = €6.9 b1.4x HoH
4 H 1 2 0 2 6 R e s u l t s
INDEX
02 Solutions for a sustainable world › 03 New life as listed company › 04 Main KPIs & Financial Results › 05 Guidance & Closing Remarks ›01 H1 Highlights › Iron Ore Pelletising Plant – 1.200 – 5.000 Tn/H - Oman
5 H 1 2 0 2 6 R e s u l t s 02 | Solutions for a sustainable world – Visibility FY 2025 H1 20265.06.9~5x ~7xBusiness visibility1, €billion x
Backlog Exclusivity
Agreementsx Sales 2025Backlog, €m Exclusivity Agreements, €m 4% 96% 1.3
H1 20266%
94% 5.6
H1 2026
Handling
& Mining
Energy Transition
& Digitalisation
Handling
& Mining
Energy Transition
& Digitalisation+40%
€1.3 bn contracts in final phase of negotiation
6 H 1 2 0 2 6 R e s u l t s TSK selected as strategic partner forFermi’s 728 MW Open Cycle in Amarillo, Texas, US Project Matador · Amarillo, Texas, US - one of the world’s largest advanced private power and AI campus sitesSERVICES CONTRACT SIGNED 728 MW open cycle TECHNOLOGY Siemens F -class STATUS Services contract in execution.
Negotiating scope increase.
SHAREHOLDER Fermi America · (“NASDAQ/LSE:
FRMI”)KEY PROJECT POINTS
01 Early works and fast-start engineering services contract signed and in execution .
02Siemens F -class equipment arriving to site in 2H 26.
03 Planned conversion from open cycle to CCGT in 2nd phase and a campus targeting more than 10 GW.
August 2026 FRMI signed (i)a15-year, $6.5bn binding lease with TensorWave fora222MW DC facility ,with potential totriple thesize over time and (ii)aframework agreement withHillCore foraBOOT uptoa2.6GW power complex (2,5GW gaspower and0,1GWPVm +BESS) .02 | Solutions for a sustainable world - Projects 04
7 H 1 2 0 2 6 R e s u l t s TSK selected fora 800 MW CCGT in Tel Aviv area, Israel 800 MW CCGT Tel Aviv area, Israel with H -class GE Vernova main equipmentPROJECT IN EXECUTION
800 MW CCGT
TECHNOLOGY GE Vernova H-class SHAREHOLDER Kenon Holdings (“NYSE: KEN”) PARTNERShikun&Binui Ltd(“TEL AVIV:
SKBN”).KEY PROJECT POINTS
01 Turnkey contract signed for the CCGT under
execution
02 Approximately USD 1bn project in execution (50/50% JV).
03 Long -standing local infrastructure partner – biggest construction company in the country .
Shareholder : Kenon Holdings owner ofmore than 6 GWofinstalled generating capacity andanadditional 2GWunder development ,mainly intheUS.02 | Solutions for a sustainable world – Projects 04 STATUS Turnkey under execution
8 H 1 2 0 2 6 R e s u l t s TSK selected fora 540 MW CCGT based onH-Class GE Vernova technology
in US
540 MW CCGT in US with GE Vernova main equipmentEXCLUSIVITY AGREEMENT
540 MW CCGT
TECHNOLOGY GE Vernova H-class
SHAREHOLDER Confidential
PARTNER Confidential – 50% listed company partnerKEY PROJECT POINTS 01 In exclusivity since 2023 with GE machinery already ordered.
02Long -standing infrastructure partner confirmed 50/50% 03 Expected tobe converted from Exclusivity Agreements intobacklog in thecoming months . 02 | Solutions for a sustainable world – Projects STATUS Exclusivity agreement and contract negotationFinal execution contract under negotiations .
Approximately USD 1bn project in execution (50/50%
JV).04
05
9 H 1 2 0 2 6 R e s u l t s Salt Conveying System in Middle East Salt Conveying system in Middle East capable ofhandling up to7,000 Tones per hour ofsalt 7,000 t/h handlingKEY PROJECT POINTS 01FEED phase completed after work since 2023.
02 Close to800 million USD fortheturn-keyproject (50/50JV) +long-term O&M (20/80JV) ofthe
facility inaJVwithSKBN
03Project expected to convert from exclusivity agreement to backlog in the coming months .
04Client is one of the world’s leading producers of potash, fertilisers and speciality minerals .02 | Solutions for a sustainable world – Projects
CONTRACT NEGOTIATION
SCOPE Turn-key + long -term O&M
SHAREHOLDER Confidential
PARTNERShikun&Binui Ltd(“TEL AVIV:
SKBN”).
STATUSFEED completed –negotiating
lastphase ofturn-keycontract
10 H 1 2 0 2 6 R e s u l t s 100 MW AI -ready data centre campus (TIER IV) 100MW AI Ready - To-Build datacenter campus in LATAM with 15 - year secured clean energy at the lowest cost globally. Iguazú , Paraguay 100 MW data center
STANDARD TIER IV
ENERGY Long -term hydro PPA STATUS Exclusivity agreementKEY PROJECT POINTS 01Ready -to-build campus focused on AI workloads.
02Secured energy from hydro through a long -term PPA.
03AECOM engineering design completed for Tier IV.
04 TSK is incorporating partners while keeping focused on its data-centre strategy .
Approximately USD 1bn Project . TSK scope 30-40%. 02 | Solutions for a sustainable world – Projects
PARTNERS ConfidentialEXCLUSIVITY AGREEMENT
11 H 1 2 0 2 6 R e s u l t s TSK selected for a green ammonia campus in Spain and a e -methanol & SAF project in Saudi Arabia Up to 300tn/hour green ammonia and 300.000 tn/year campus in Andalucia, Spain, and Jazan, Saudi Arabia Energy & electrical supplies linked to industrial plants SCOPE Energy & electrical works STATUSExclusivity agreement – Projects under developmentKEY PROJECT POINTS Projects under development – with RtB expected in 2027 Exclusivity granted to TSK and working on design of the plants for more than two years Confidential listed technogical partner specialized in ammonia and e -methanol & SAF involved More than 700 MW of renewable energy expected to be installed in the facilities.02 | Solutions for a sustainable world – Projects
PARTNERS ConfidentialEXCLUSIVITY AGREEMENT
SHAREHOLDERSSpain : GO Energy &
confidential partner
Saudi : SARCO 75% & GO
Energy 25%01
02 03
04
12 H 1 2 0 2 6 R e s u l t s 02 | Solutions for a sustainable world - Strategy Shifting from broad, scattered international exposure to a more strategic expansion in a targeted selection of geographies w here the G roup already has a long -st anding t r ack r ecor d in Europe, A merica, and Middle East Capitalize on deep local knowledge, bolstering regional
partnerships
Execution risk mitigation driven by legal, commercial and geopolitical
knowledge
13 H 1 2 0 2 6 R e s u l t s
INDEX
02 Solutions for a sustainable world › 03 New life as listed company › 04 Main KPIs & Financial Results › 05 Guidance & Closing Remarks ›01 H1 Highlights › Sugar Refinery Yanbu – Saudi Arabia
14 H 1 2 0 2 6 R e s u l t s 03 | New life as listed company Pre-IPO TodayUse of Proceeds in IPO:
Reinforce Equity to deliver sustained profitable growth
+€1bn
RevenuesEquity Pre -IPO €382 million* Equity post -IPO
35% Equity/Total
Assets€172.5m
IPO Proceeds
Next Phase
post -IPO
*Do not include translation differences in an amount of € 88 SHAREHOLDER STRUCTURE Sabino García 60.31% Javier García 3.72% Víctor González 3.72% Santander AM 3.40% Treasury shares 0.75% Free float 28.11 %Shareholder base Post IPO
15 H 1 2 0 2 6 R e s u l t s PANAMA DIVESTMENT USD 82m collected in July 2026 H1 RESULTS03 | New life as listed company 1H results delivered according to Guidance.a.Syndicated Guarantee Issuance Agreements pre -IPO:
I. €520 million committed facility: will be extended up to 2028 after Extensions Conditions fulfilment in July 2026.
II. €48 million committed facility: in progress of extension up to 2028.
b.New Financial Guarantees committed facilities so far:
I. USD 50 million by one of the main Israeli banks.
II. USD 35 million by two insurances companies to be used worldwide.
III. EUR 30 million by an A+ S&P international bank to be used worldwide.
c. Negotiations already going on to expand our facilities with both banks and insurances companies.IPO already proving to be successful. Key milestones already accomplished post IPO on our Use of Proceeds:Key highlights accomplished post IPO:
SHARE PRICEStrong performance thanks to a robust and well diversified book building process and strong equity story. Market cap above €700m. Share price + ~20%
16 H 1 2 0 2 6 R e s u l t s
INDEX
02 Solutions for a sustainable world › 03 New life as listed company › 04 Main KPIs & Financial Results › 05 Guidance & Closing Remarks ›01 H1 Highlights › Syncronous condenser – Grid stability - UK
17 H 1 2 0 2 6 R e s u l t s 04 | Main Financial Figures – P&L 1H 2026 (1/2) 436
29464
423
58481
ET&D H&M TOTAL
H1 2025 H2 202642,4
6,548,953,1
16,970,1
ET&D H&M TOTAL
H1 2025 H1 202648,9
(20.0)28,970,1
(25.6)44,5
Contribution profit General expenses EBITDA
H1 2025 H1 2026SALES +4% YoY
€481m
Increase in activity after IPO expected from 2H 2026 onwards (IPO executed 05/26)
H1 2025 €464mCONTRIBUTION PROFIT +43% YoY
€70.1m
ET&D increase (12,5% vs 9.7%) H&M surge (29.3% vs 22.4%)14.6% CP margin H1 2025 €48.9m | 10.6% CP MarginEBITDA +54% YoY
€44.5m
9.3% EBITDA Margin – Fully aligned with Guidance Corporate Expenses/Sales for 2026 expected to remain 4 -4.5%9.3% EBITDA margin H1 2025 €28.9m | 6.3% EBITDA Margin
18 H 1 2 0 2 6 R e s u l t s 04 | Main Financial Figures – P&L 1H 2026 (2/2)
44,5 44,85,9
38,62013,8
EBITDA D&A & Others EBIT Financial incomeTaxes Net Profit *Assuming FX constantStrong EBITDA conversion into net profit
EBIT
€38.6m – 8% EBIT MARGIN
FINANCIAL INCOME
€20.0m
Net Financial result* expected to improve in 2H driven by (i) lower financial expenses stemming from substantially lower gross debt and (ii) higher financial income stemming from significantly higher cash
NET PROFIT
€44.8m – 9.3% NET PROFIT MARGIN
101% conversion Net Profit/EBITDA87% conversion EBITDA on EBIT
x16 YoYEBITDA
€44.5m – 9.3% EBITDA MARGIN
H1 2025 €28.9m | 6.3% EBITDA Margin driven by theGroup's transition toa net cash position.
19 H 1 2 0 2 6 R e s u l t s (2,9x)1,0x04 | Main Financial Figures – LTM Net Cash *Pro forma Net Cash, Includes proceeds from Panama divestment collected on the 17th July 2026, in an amount of ~€72 million.(288)94
538016485
Net Cash
30.06.2025Operating Cash
FlowInvestment
Cash FlowIPO Net
ProceedsPanama
Divestment &
OthersNet Cash
30.06.2026*BALANCE SHEET
TRANSFORMATION
€94m Net Cash / €149m Net Cash short term +€382m cash improvement in 12 months
STRONG OPERATING CASH
CONVERSION
€56m of June receivables collected in July, bringing pro forma Operating Cash Flow to €109m, equivalent to approximately YoY 100% EBITDA cash conversion
NO CLIENT ADVANCE PAYMENTS
+€382m improvement in NC (30.06.2025 - 30.06.2026)Net cash position achieved without customer advance payments, reducing operational leverage and providing greater visibility over available liquidity .
20 H 1 2 0 2 6 R e s u l t s 04 | Main Financial Figures – Balance Sheet **Do not include translation differences in an amount of € 88 (60) (49)(23)191 06.25 12.25 03.26 06.26Working Capital
Equity**, €mNEGATIVE COMMERCIAL
WORKING CAPITAL (“CWC”).€20m negative CWC as of30.06.2026, reflecting a self-funded operating cycle , requiring no financing or cash injections from the Group.
WORKING CAPITAL€191 million positive Working Capital coming from +100% available treasury.
EQUITY Equity/Total Assets Ratio : 35%**
21 H 1 2 0 2 6 R e s u l t s
INDEX
02 Solutions for a sustainable world › 03 New life as listed company › 04 Main KPIs & Financial Results › 05 Guidance & Closing Remarks ›01 H1 Highlights › CCGT 125 MW 1x1 GE GT 6F – Dominican Republic
22 H 1 2 0 2 6 R e s u l t s 05 | Guidance & Closing Remarks (1) Gross Debt less Cash & EquivalentsMid-Term Targets in IPO Revenue High -single -digit to mid -teens
Contribution Profit
Margin Range from the L2Y average to slightly above FY25 levels
EBITDA Margin
Net Financial Debt1 to EBITDANot to exceed 0.5x Capex No material Capex expected Dividend PolicyNo distribution expected in the next 3 yearsH126
Ongoing
14,6%
9.3%
Net Cash
No material CAPEX✓ ✓ ✓ ✓ FY26 Guidance reaffirmed
23 H 1 2 0 2 6 R e s u l t s 05 | Guidance & Closing Remarks TSK TSK operates in end markets entering a new structural growth paradigm , driven by energy transition, electrification, decarbonization, infrastructure resilience and handling of critical mineralsTSK represents a unique investment opportunity, positioned for a qualitative leap forward TSK’s record backlog and strong commercial pipeline provide exceptional visibility and clearly evidence the scale of the opportunity ahead Full delivery on our first results according to Guidance provided and FY 2026 Guidance reaffirmed.
24 H 1 2 0 2 6 R e s u l t s
Legal disclaimer
Legal Disclaimer
The information contained in this presentation has been prepared by TSK Electrónica y Electricidad , S.A. (the “Company” and together with its subsidiaries, the “Group”) for the sole purpose expressed herein and neither this presentation, the related webcast, nor the information contained herein, can be used, disclosed, or published by third parties for other purposes without the prior written consent of the Company .
Neither the Company, nor other companies of the Group, will assume any responsibility, whether for negligence or other reason, for any damage or loss arising from any use of this presentation, the related webcast, or the information contained in this presentation . In particular, no investment decision on the Company’s shares, securities or other financial instruments of the Company linked to them shall be taken on the basis of the information contained therein .
This presentation, the related webcast, and the information contained herein should not be interpreted as an offer or invitation to acquire, subscribe, buy, sell, or exchange shares or securities of the Company or financial instruments referenced to, or the underlying of which, is shares or securities of the Company . It should also not be considered a solicitation of an offer for such activities, nor a recommendation or advice regarding shares or securities issued by the Company or financial instruments referenced to, or the underlying of which, is shares or securities of the Company .
The securities of the Company have not been registered under the United States Securities Act of 1933 , and cannot be or will not be offered or sold in the United States, except in compliance with an effective registration statement or under a valid exemption from registration requirements . Likewise, these securities cannot be offered or sold in other jurisdictions except in compliance with applicable laws and regulations of those jurisdictions .
Forward -Looking Statements The information in this presentation and in the related webcast may include forward -looking statements, which are based on current expectations, projections and assumptions about future events . These forward -looking statements include all matters that are not historical facts . The words “believe”, “expect”, “anticipate”, “intends”, “estimate”, “forecast”, “project”, “plan”, “will”, “may”, “should”, “target”, and similar expressions identify forward -looking statements .
These forward -looking statements, as well as those included in any other information included in this presentation or discussed in the related webcast, are subject to known or unknown risks, uncertainties and assumptions about the Group and its operations, including, among other things, the development of its business, its growth plan and targets, trends in its industry, economic and demographic trends, technological risks and the Group’s future capital expenditures and acquisitions . In light of these risks, uncertainties and assumptions, which may be beyond the Group’s control, the events in the forward -looking statements may not occur and actual results, performance or achievements may materially differ from any future results, performance or achievements that may be expressed or implied in this presentation or discussed in the related webcast . No representation or warranty is made that any forward -looking statement will come to pass . Forward -looking statements speak as of the date of this presentation and the Company does not undertake to publicly update or revise any such forward -looking statement, whether as a result of new information, future events or otherwise . Such forward -looking statements do not purport to be exhaustive, nor have they been verified or audited by third parties . None of the Company or any of the companies of the Group, or any of their respective directors, officers, employees, advisers or agents, accepts any responsibility or liability whatsoever or makes any representation or warranty, expressed or implied, as to the truthfulness, fairness, accuracy, completeness or verification of such information . Accordingly, undue reliance should not be placed on any forward -looking statement contained in this presentation or the related webcast . The Company does not undertake any obligation to publicly update any forward -looking statements to reflect events or circumstances occurring after the date of this presentation .
Past performance is not indicative of future results .
Statements regarding historical performance or, where applicable, growth rates are not intended to imply that future performance, share price or future results for a given period will necessarily match or exceed those of a prior year.
Alternative Performance Measures and Non-IFRS Information This presentation and the related webcast include financial information prepared by the Company under the International Financial Reporting Standards (“IFRS”) adopted by the European Union, as well as certain non-IFRS consolidated financial measures of the Group derived from (or based on) its accounting records, and which it regards as alternative performance measures (“APMs”) for the purposes of Commission Delegated Regulation (EU) 2019 /979 of March 14, 2019 and as defined in the European Securities and Markets Authority Guidelines (“ESMA”) on Alternative Performance Measures dated October 5, 2015 . Other companies may calculate such financial information differently or may use such measures for different purposes than the Company does, limiting the usefulness of such measures as comparative measures . These measures should not be considered as alternatives to measures derived in accordance with IFRS, have limited use as analytical tools, should not be considered in isolation and, may not be indicative of the Company’s results of operations . Recipients should not place undue reliance on this information .
25 H 1 2 0 2 6 R e s u l t s